For a disruptive industry like the drone industry, it’s hard to accurately project growth, and the further you try to push out your projection relative to time, the greater your chance of error. That’s why I always try to take any and all projections with a grain of salt. Sometimes, if you look at groups of projections, comparing shifts and trends, you can see changes as well.
That’s why I included the below referenced article. While I don’t know if I’m confident in their “hard numbers,” I am confident that the nailed some of the key emerging and fast growing verticals within the drone industry. Verticals like precision agriculture, aerial photography, surveillance, survey mapping, and energy.
The demand for commercial drones is accelerating thanks to their increasing use in aerial photography, precision agriculture, and surveillance applications. Images and videos captured through drones provide better image quality and resolution, which is a prime reason behind their application across diverse industries. Furthermore, with the recent advancements, 4K video capable smartphones and televisions have come into foray, which has made customers expect for better video and image quality. Taking cue from the prevailing trends, companies such as YUNEEC and DJI have launched commercial drones that offer HD video monitoring and 4K video recording capabilities. These trends will create lucrative opportunities for the market’s growth, it is also expected to gain from the falling prices of components.
By type, the multi-rotor segment emerged as the lead holding a share of 25% in the market in 2016. It is expected to remain dominant through the course of the forecast period. The rising application of multi-rotor drones in agriculture and surveillance activities is expected to fuel their demand further in the coming years. Other segments under this category are single rotor, fixed wing, and hybrid. Of these, the fixed wing segment held the second leading market share in 2016. The demand for fixed wing drones is expected to gain pace with their increasing use in survey mapping and surveillance.
In terms of application, the global commercial drones market can be segmented into precision agriculture, aerial photography, surveillance, survey mapping, energy, and others. Of these, the aerial photography segment held the dominant share of 25% in the overall market in 2016. The increasing application of commercial drones in the media and entertainment industry for taking high definition aerial images for video shots will contribute to the segment’s growth. A majority of drones used for aerial photography are equipped with high resolution cameras.
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